PVH Corp reports Q2 FY20 revenue of $1.58 bn

PVH Corp, a global apparel companies, reported 33 per cent revenue decline to $1.58 billion in its second quarter (Q2) FY20 ended on August 2, compared to $2.24 billion in the same period last fiscal. Company’s digital channels revenue grew over 50 per cent with sales through directly operated digital commerce businesses up 87 per cent compared to Q2 FY19. 

 

PVH Corp, a global apparel companies, reported 33 per cent revenue decline to $1.58 billion in its second quarter (Q2) FY20 ended on August 2, compared to $2.24 billion in the same period last fiscal. Company's digital channels revenue grew over 50 per cent with sales through directly operated digital commerce businesses up 87 per cent compared to Q2 FY19.#

“Our second quarter revenue exceeded our expectations, reflecting better than expected performance in all our markets and channels. We continue to see outperformance in our digital businesses and across our comfort and casual assortments,” Emanuel Chirico, chairman and chief executive officer at PVH Corp, said in a press release.

 

PVH Corp, a global apparel companies, reported 33 per cent revenue decline to $1.58 billion in its second quarter (Q2) FY20 ended on August 2, compared to $2.24 billion in the same period last fiscal. Company's digital channels revenue grew over 50 per cent with sales through directly operated digital commerce businesses up 87 per cent compared to Q2 FY19.#

“As we head into the third quarter, trends in China and Europe continue to be very encouraging. However, our North America business continues to experience pressure due to the resurgence of Covid-19 cases and the lack of international tourist traffic coming to the US.”

 

PVH Corp, a global apparel companies, reported 33 per cent revenue decline to $1.58 billion in its second quarter (Q2) FY20 ended on August 2, compared to $2.24 billion in the same period last fiscal. Company's digital channels revenue grew over 50 per cent with sales through directly operated digital commerce businesses up 87 per cent compared to Q2 FY19.#

Gross profit for the quarter was down to $883.3 million (Q2 FY19: $1,288.4 million). Selling, general and administrative expenses fell to $882.2 million ($1,154.5 million). Company incurred a net loss of $51.7 million compared to net income of $193.1 million in Q2 FY19. 

 

PVH Corp, a global apparel companies, reported 33 per cent revenue decline to $1.58 billion in its second quarter (Q2) FY20 ended on August 2, compared to $2.24 billion in the same period last fiscal. Company's digital channels revenue grew over 50 per cent with sales through directly operated digital commerce businesses up 87 per cent compared to Q2 FY19.#

Sales of Tommy Hilfiger segment were down to $803.7 million ($1,110.2 million). While sales of Calvin Klein during Q2 FY20 slipped to $590.5 million ($873.3 million). Heritage Brands sales declined to $186.5 million ($380.7 million).

 

PVH Corp, a global apparel companies, reported 33 per cent revenue decline to $1.58 billion in its second quarter (Q2) FY20 ended on August 2, compared to $2.24 billion in the same period last fiscal. Company's digital channels revenue grew over 50 per cent with sales through directly operated digital commerce businesses up 87 per cent compared to Q2 FY19.#

“We are confident that these focus areas of improving our products and assortments, strengthening our distribution, especially in our digital channel, and capturing cost efficiencies will best position us to gain market share globally and win with our consumers,” Chirico said.